Economics

B2B Stories

Simon Says: 2025’s Been a Good Year!

It has been a while since I updated the Augusta Labor Market Index (LMI) because the Federal Reserve Bank of St. Louis had not updated its website since December. Recently, it did so through April, and the Augusta LMI has increased by 0.5 percent from December and is 1.2 percent higher than April 2024. The LMI measures labor market vitality through five components: employment, unemployment rate, labor force, average weekly earnings, and average weekly hours worked. Over the past five months, employment increased by 1,200, and the unemployment rate fell

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B2B Stories

Busy late July for Augusta banker and parent company

The Augusta market president for a Southeastern Bank has had a busy few weeks, from a trip to the New York Stock Exchange, also to receive an honor across the Peach State. All while the parent company of his bank acquired another bank! Chris McLaughlin from Colony Bank in Evans will be serving a three-year term as a member of the Leadership Georgia Bankers Association Board of Directors. Leadership GBA supports the advancement of career bankers by providing leadership development training, serving as a forum through which career bankers can network and

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B2B Stories

August meetings and conventions coming in HOT!

The temperatures are hot, and so are the projections for the economic impact of visitors headed to the Augusta River Region for meetings, reunions, and other events. More than 7,000 visitors will be in town, generating almost $6,400,000 in the month of August. The largest boost comes from the TechNet conference to be held in mid-August. This will be the 12th year TechNet has been hosted in Augusta. It brings in at least 6,000 attendees, with more than half coming from outside Georgia and South Carolina. That conference alone is estimated to generate more

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B2B Stories

Finding financial backing for women entrepreneurs

A recent speaker to an Aiken and national audience said women own 14 million businesses in the U.S., which is about 39% of all businesses, a mixture of independent companies and franchises. They employ than 11 million and generate two and a half trillion dollars in income. In 2024, women launched 49% of all new businesses. The challenge is locating a funding source. The unique challenges facing women small business owners looking for funding were the focus of a recent webinar. Offered by Greater Aiken SCORE, the webinar was led

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B2B Stories

CSRA company expanding programs to meet supply and demand

One of the largest employers in the CSRA, Savannah River Nuclear Solutions (SRNS), is enhancing its industrial supply base. The initiative aims to increase the capability and capacity of SRNS suppliers and manufacturers to meet and perform critical mission scopes for the Department of Energy (DOE) and the National Nuclear Security Administration (NNSA). “The Supplier Technical Assessment and Validation program (STAV) is a significant benefit for our suppliers and manufacturers, bridging the gap between part requirements, manufacturing capabilities, and demonstrated execution,” said Wayne Potter, SRNS Supplier Relationship Development (SRD) Manager

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B2B Stories

Another top report for Augusta businesses

For the third time since May, Augusta is showing up in a survey of locations to do business. Georgia overall is ranked well on another “Best Of” report, and Augusta is in the top 20 in the results. Global Location Strategies (GLS) has published the 2025 edition of its Best Places for Food Manufacturing report. Augusta checks in nationwide at number 12. In May, a report by GLS on the Best Places for Primary Metal Manufacturing Insights report, Augusta was ranked at number 21. That reflected a jump from 42

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Awards

Local economic development leaders soak in Top-Ten list

A national publication recently studied economic growth and site development along the more than 1,500-mile stretch of Interstate 20. Augusta made a big impression. Site Selection Magazine, a publication that caters to business executives and site selection consultants, found the highest concentration in Dallas-Fort Worth-Arlington with 772 sites. Atlanta and New Orleans rounded out the top three. However, Augusta made the list, sitting at number 10. The study looked at all new corporate and end-user, facility investment projects over the past two years in the counties the interstate passes through.

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B2B Stories

Augusta makes the top 10

A report done by a national publication lists Augusta in the Top 10 locations for site development. Site Selection Magazine is the official publication of the Industrial Asset Management Council (IAMC). Founded in 1954, it is currently based in Norcross, Ga. “We are a controlled circulation, B2B publication that goes to corporate leaders with decision-making responsibility when it comes to facility, locations, and expansions,” Adam Bruns, Editor-in-Chief, head of Publications, explained for ABD. “We’ve gone to what would typically be a job title like the director of global real estate

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B2B Stories

Strong outlook for back-to-school shopping

As students begin returning to classrooms, parents are hitting stores for clothing and school supplies. The National Retail Federation (NRF) examined consumer data and the impact of tariffs and inflation on back-to-school spending. ABD joined a webinar held by NRF to outline the findings. Mark Mathews, Chief Economist and Executive Director of Research for NRF, said what he refers to as “consumer sentiment” is very low, but he has seen a recent bounce. “When you look at the consumer’s finances, household net worth remains near record highs. We have discretionary

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Awards/Celebrations

CSRA bankers celebrate milestones with trip to New York

Ding ding ding! Ring the bell. Three area bankers, along with Colony Bank’s executive team, board of directors, and division leaders, just got back from Wall Street. The July 15th bell ringing on the floor of the New York Stock Exchange was a joint celebration of Colony’s move onto the NYSE and its 50th Anniversary. “We have been publicly traded for many years on the NASDAQ but made the decision to move to the NYSE last fall,” said ABD member Hugh Hollar, who attended the ceremony with colleagues Chris McLaughlin and Jennifer

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